Credit Suisse shares have risen in response to reports of State Street acquisition interest
Shares in Credit Suisse jumped after a report said the Swiss bank could be sold to U.S. custodian State Street at a premium of more than 30% to Tuesday's closing price.
Feyisayo Ajayi
1 min read
Shares in Credit Suisse (CSGN.S) turned sharply higher in afternoon trade on Wednesday with traders citing an Inside Paradeplatz report saying that U.S-based State Street (STT.N) is planning a takeover bid for the troubled Swiss lender.
Shares in Credit Suisse jumped after a report that said the Swiss bank could be sold to U.S. custodian State Street at a premium of more than 30% to Tuesday’s closing price.
Shares in State Street were down more than 2%, underperforming the wider market. By 1426 GMT, the shares were up 3% after a sudden jump following the report in a Swiss financial blog.
This report’s information was first seen on Reuters; to read more, click this link.
